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a MM Signal he has a sell order and voila a 35k trade printed at .675
with 3 employees we aint going on no NYSE
I am surprised how TIGHT the info flow has been so far,
we had a small update from Spp and the JDA saying all is going extremely well
100's of RIG Workers
100's of Consortium Employees
100's of Government Employees
1000's of Shareholders
and ZERO news 6 weeks in
at $1 Million/ day the longer they park in Kina/Bomu
the better we are
just need some more birdies
Frigg'n AWESOME Mark THANKS !!!!
Umbra the Net Net for Oil Prices is Higher
with these 2 scenarios playing out
plus the Chinese get to invest their depreciating US Dollars
in Oil Dollars which will be worth much more down the road
However the timing of their aggressive action is perfect for us as we touch TD on our 2 biggest prospects in the Region
everyone notice the Unrisked in JDZ BL 4 from Addax
no wonder they are taking a few more days ....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41917650
Addax claims 239 MM Bbls in JDZ BL 1
and x 2 for Chevron as well
= close to 1/2 MM Bbls in JDZ BL 1
Addax Estimates per Block / Prospect MM Bbls
Unrisked / Risked / Totals
JDZ BL 1,
172.9 / 66 / 238.9
JDZ BL 2,
50.1 / 24.9 / 75
JDZ BL 3,
41 / 13.1 / 54.1
JDZ BL 4,
428.7 / 201.8 / 630.5
Totals
692.7 / 305.8 / 998.5
Addax Estimates per Prospect MM Bbls
...... Low / Best / High
JDZ BL 4,
KINA, 237 / 352 / 479
KINA South, 61 / 96 / 134
JDZ BL 2,
Bomu, 137 / 274 / 435
Principe, 47 / 78 / 108
Totals 482 / 800 / 1156
ERHC Estimates per Block
Unrisked / Risked / Totals
JDZ BL 2,
77 / 38 / 115
JDZ BL 3,
27 / 8 / 35
JDZ BL 4,
231 / 88 / 319
Totals
335 / 134 / 469
Spp Sounds Like GREAT News on Bomu
Thanks for sharing
PS you can always use the Skype Chat Box too ...
Industry related ..
State-run GNPC agrees its terms with China amid Jubilee rumours
Ghana signs up to support protocol
BARRY MORGAN, Accra
GHANA 's state-owned oil company Ghana National Petroleum Corporation (GNPC) and the Chinese National Offshore Oil Corporation (CNOOC) have signed a protocol covering financial and technical support for oil exploration.The deal, which comes amid speculation in Ghana that the two could join forces to buy Kosmos Energy's stake in the Jubilee oil project, was confirmed after a courtesy call on President John Atta Mills by the CNOOC chief executive Fu Chengyu.
Also in attendance was Ghana's Minister of Energy Joe Oteng-Adjei who stressed his ambition for GNPC to go beyond its "traditional finding and co-ordination role" and become active in exploration.
Ghana has yet to pass a proposed overhaul of its petroleum code and restructure national petroleum institutions, but Oteng-Adjei's remarks representthe firmest indication yet that the government aims to develop an indigenous and independent exploration and production skills base.
Fu Chengyu also highlighted the need for Ghana to assert its sovereign rights and "build its own oil company rather than depend on foreign investment." Mills stressed "the good ties between China and Ghana [and gratitude]that you've come at the time when we need your technical support," adding that his government would "create the right environment" for effective collaboration.
Environmental and human rights observers, such as Oxfam International, have long criticised Ghana's oil regime as discouragingly opaque. They argue that the current extractive industries transparency initiative should be applied to the nascent oil sector before the oil starts flowing, but this now seems unlikely.
Local non-governmental organisations continue to call on existing operators and the government to "publish what they pay" under Ghana's hybrid royalties-concession system.
Meanwhile, other foreign explorers are also keen to acquire Kosmos Energy's stake in the Tullow Oil-operated Jubilee field, believed to hold between 1.2 billion and 1.8 billion barrels of oil equivalent, and that of smaller participants Sabre Oil&Gas and the E O Group.
GNPC has said it wants to buy the 23.49% Kosmos stake in Jubilee but observers wonder how the cash-strapped parastatal or the government would raise a sum close to $5 billion. Adding to local speculation that CNOOC is poised to acquire the Kosmos stake in Jubilee, industry officials in Accra are this week openly linking Fu Chengyu's official visit to Finance Minister Kwabena Duffuor's admission on 18 September that Ghana is seeking a $2 billion concessional loan from Beijing.
At the same time, CNOOC confirmed last month that it was in the running to acquire the Kosmos stake and was ready to help Ghana realise its upstream ambitions.
Meanwhile, interest in available Jubilee equity has intensified among oil suitors amid growing awareness of heavy politicking within Ghana's new administration, keen to put its own stamp on the equity line-up.
The initial deadline for bid submissions was extended for one month until the end of August but this has now been "suspended", according to a senior executive of one major equity participant.
--------------------------------------------------------------------------------
Thursday, 24 September, 2009, 23:01 GMT | last updated: Thursday, 24 September, 2009, 23:01 GMT
correct and those are the 2 most signficant wells
perhaps Kina South as well
as some have suggested the JDA officials or their buddies will be talking before anything official from the companies is released - my guess is within a few short weeks
STP President Fradique de Menezes also loves to chat it up and will again for his peeps
his country is depending on great news after 10 years of planning
RKT no one thought Addax would sell out weeks before the JDZ was finally to be drilled
No One Knows Nuttin ...
Expect the Unexpected ...
and I agree "JDA may be lift the covers a little bit beforehand"
and I agree with HYDE ...
"Not sure that we will have to wait on a public announcement of amounts of oil found to move the share "
thanks Fishdog at $600k/day I trust a few more days = more net pay
Larry assume the 13 3/8" casing took about 2 weeks
to drill the next hole section thru the target zones 1 week or so to Total Depth ??
You say its a good thing if they take their time at this point
and know the DP Crew are probably the best in the business in these deep waters
Addax claims 172.9 MM Bbls in JDZ BL 1
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41667895
Fishdog in the movie Armageddon Bruce Willis gave Ben Affleck crap for drilling into a Huge Gas Pocket - [drilling a deep water prospect]...
but
as I recall, the OIL that flowed afterwards was SPECTACULAR
Just another day drilling for 100's of millions of Bbls
ha ha
yes it would have been set already if it were on
notice would have been given
it's DK's B-Day today so don't bug him - LOL
the Chinese bought APKO a 45% stake for $2.46B,
or about $5 per barrel".
Apko has 500 MM Bbls Proven
ERHC Based on Best Estimates ....
if ER gets 469 MM Bbls [Risked+Unrisked of JDZ 2,3,4] we can expect $3.26 / per share at proven
not including 4 x EEZ Blocks and JDZ BL 5,6 and 9 or Gas
so if ER gets 336 MM Bbls [Unrisked JDZ 2,3,4] we can expect $2.19 / per share at proven
not including 4 x EEZ Blocks and JDZ BL 5,6 and 9 or Gas
based on the Apko deal - not sure what the price of oil was at the time
this drilling info is EXTREMELY Sensitive to all the stakeholders of both Governments [Sao Tome/Nigeria] all their Constituents / the Rig Operators and Block Participants
Not to mention the 1000's of Shareholders of all Participants, Industry Observers and Press.
100's of Millions/Billions of Dollars have been invested and are additionally at stake for future Bid Rounds in all Zones...
Leaks may start once total depth is drilled and then concluded which is coming up very soon [any day]
I guarantee no leaks will be coming from our management team
Sounds Right - It's GO time - It's really quite incredible what this company has been through to bring us to this point.
Now we eagerly await confirmation of what we all know to be true - that the JDZ/EEZ is loaded with oil
we were the first to realize this in 1997 - we took the risk before anyone else ....
[SEO did in 2001 when our fate was more than uncertain]
and now being partnered with Sino/Addax drilling with world class rigs, Oil over $70, the Chinese who we brought to the JDZ Dance come with big $bucks and already snagged Addax for $52 and are aggressively securing oil properties world wide to supply their hungry oil markets for the next 30 years.
Plus they hedge their US Dollar holdings buy buying Oil assets that many feel will be considerably higher down the road.
they are already so DEEP in the JDZ, it wouldn't take much to go a bit Deeper and snag us up
are we next ??? I say YES IMO ....
Catbird Seat = Priceless
Notice what Addax says for BL 1 ...
Addax Estimates per Block / Prospect MM Bbls
Unrisked / Risked / Totals
JDZ BL 1,
172.9 / 66 / 238.9
JDZ BL 2,
50.1 / 24.9 / 75
JDZ BL 3,
41 / 13.1 / 54.1
JDZ BL 4,
428.7 / 201.8 / 630.5
Totals
692.7 / 305.8 / 998.5
Addax Estimates per Prospect MM Bbls
...... Low / Best / High
JDZ BL 4,
KINA, 237 / 352 / 479
KINA South, 61 / 96 / 134
JDZ BL 2,
Bomu, 137 / 274 / 435
Principe, 47 / 78 / 108
Totals 482 / 800 / 1156
ERHC Estimates per Block
Unrisked / Risked / Totals
JDZ BL 2,
77 / 38 / 115
JDZ BL 3,
27 / 8 / 35
JDZ BL 4,
231 / 88 / 319
Totals
335 / 134 / 469
NO Way "could spark the interest of some investigator"
Mark speaks to the IR Guy at the JDA [the Public Spokeman]
if anyone wants for fork out the $5-10/minute LD Charge you can gather the same info to call Nigeria, he has spoken with them for years and has now formed a trusting relationship
we are grateful for his continued efforts to update the iHub board
and
any other Chatter or Opinion given on other events is just that=Opinion
Meanwhile we are finally drilling the Target Zones this week
get ready for the fun to begin
Happy Rosh Hashana to all my Jewish ERHC Friends
Lets hope this New Year Brings Health, *Wealth* and Happiness
and let us Pray for lots of Net Pay
B4 IMO
Dig ... 177885
probably about to drill the target zone
Next week should be fun ....
Petrobras lines up Sao Tome Gig
Upstream Online
Brazilian state-owned oil company Petrobras will carry out a seismic survey of the exclusive economic area of Sao Tome & Principe and train staff for the oil sector, Sao Tome’s prime minister, Joaquim Rafael Branco said.
Commenting on his five-day visit to Brazil, the Prime Minister said that during a meeting with Petrobras officials it was also agreed that the Brazilian company would send a mission to Sao Tome & Principe to look into the possibility of producing biodiesel locally, wrote the Macauhub.
Related - W. Africa MAJOR Oil Find Anadarko
http://www.cnbc.com/id/32874673
Anadarko Announces Major Oil Find; Shares Jump
Published: Wednesday, 16 Sep 2009 | 8:55 AM ET Text Size By: Reuters
An Anadarko Petroleum-led consortium of oil companies said it had made an oil find offshore Sierra Leone which potentially opens up a new, 1,100 km-wide oil frontier in West Africa.
Houston-based Anadarko [APC 59.17 --- UNCH (0)] said in a statement on Wednesday that the Venus B well, drilled in the SL 6/07 offshore block, in which Spain's Repsol [REP 27.03 --- UNCH (0)], Australia's Woodside Petroleum [WPL 50.82 2.32 (+4.78%)] and UK-based Tullow Oil [TUWLF 18.5231 --- UNCH (0)] have stakes, proved the existence of a reservoir detected by seismic surveys.
"The Venus discovery confirms the existence of an active petroleum system in the basin and enhances the prospectivity of our vast West Africa acreage position," said Bob Daniels, Anadarko's senior vice president of worldwide exploration.
RELATED LINKS
Current DateTime: 06:01:06 16 Sep 2009
LinksList Documentid: 32874783
Oil Dips Below $71 on Weak DemandGasoline Prices Push InflationOPEC Says Economic Recovery Will be Slow, Gradual
The oil companies believe the reservoir is part of a series that stretches from Ghana to Sierra Leone, across the Ivory Coast and Liberia.
"The significance of Venus-B's success is that it would prove up the western extent of the West transform Margin offshore Ghana, Cote d'Ivoire and Sierra Leone and bring into play a whole series of prospects that could mirror Jubilee in size," Richard Griffith at Evolution Securities said.
The Jubilee field in Ghana has a resource potential of up to 1.8 billion, Tullow, Europe's largest independent oil explorer by market value, has said.
Anadarko said it would start drilling offshore the Ivory Coast once it finished at the Venus B site.
Copyright 2009 Reuters. Click for restrictions.
Check your OIL at $70 and look for Leaks
Official News BL 3,4 - Jan.-Feb., 2010
Official News BL 2 - Nov.-Feb., 2009-2010
may correspond with http://www.cwcnog.com/
Feb. 22-25, 2010
Basic Leaks/Chatter Anytime
Industry Articles Anytime
Gov't Members Comments Anytime
Check your OIL last at $71.78 = Fill ER UP
Red, 50,000 just punched us up higher
nice to see the bigger blocks
No one really knows what's in store for us...
After years of planning, Auctions, Licenses, PSCs and finally drilling... we are all STILL speculating about the future of our company.
Mixed Messages - you bet - always have been
True some buyout chatter exists - but only Chatter, [perhaps there are some preliminary discussions going on .... I hope there would be ...
But after results are in, the Chatter will certainly heat up again ...
Personally, I think it will be BAD business to have our name tagged to any EEZ round - this brings me to the reason I feel we will be sold prior.
Even though we are legally entitled to our blocks, we have earned those blocks and in doing so helped Sao Tome in their journey to be a prosperous, healthy producing Oil Country.
I feel the PR nighmare may be too much for all involved.
Future Headline "ERHC strips Sao Tome of $200 Million in Signature Bonuses"
SEO/Chrome and ERHC, Sinopec and even Nigeria will have to answer to this again and again,
we will continue battle these on going PR wars and perhaps another STP AG report [even though the first one was BS - the negative PR did hurt us and we will NEVER win over the hearts and minds of the STP'rs and those that represent them]
I just think SEO will be given other sweatheart deals down the road, to do with China and he can finally move on from ERHC of which the ride for him was certainly trying.
Having the Chinese take 2 100% blocks in STP will go over much better for all stakeholders. Much Better...
Not to mention the risk and time frames involved
Give any shareholder $4 tomorrow and I'm sure 80+% would be happy to Tender - Hey then we can all go buy SNP - WinWin
All IMO
I figure this time NEXT WEEK ...
The Deepwater Pathfinder will *start* to drill the hole section completely through target zones to TD
figure another week or so to finish after that....
this is when we can look for leaks ......
IMO the PPS should tell us how much oil we struck far in advance of any official News
Last Update: 9/4/2009 9:15:10 AM
LONDON (Dow Jones)--Addax Petroleum (AXC.LN) said Friday it has requested that
the admission of its common shares to the UKLA Official List and the London Stock
Exchange be cancelled, both with effect from Oct. 5.
MAIN FACTS:
-To delist its common shares from Toronto Stock Exchange on same date.
-Delisting based on acquisition of Addax Petroleum by Mirror Lake Oil and Gas
Company Ltd.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
(END) Dow Jones Newswires
Addax Petroleum Corp Request To Cancel Listing
Addax: Cancellation Due To Acquisiton By Mirror Lake Oil, Gas
Last Update: 9/4/2009 9:07:42 AM
(MORE TO FOLLOW) Dow Jones Newswires
September 04, 2009 09:07 ET (13:07 GMT)
Funny